Related Party Transactions

9 Months Ended

Sep. 30, 2018

15. RELATED PARTY TRANSACTIONS

Throughout the periods covered by the unaudited condensed consolidated financial statements, Autoliv purchased finished goods from Veoneer. Related party purchases from Veoneer amounted to approximately $30 million and $19 million for the three months ended September 30, 2018 and September 30, 2017 respectively, and to approximately $73 million and $54 million for the nine month periods ended September 30, 2018 and September 30, 2017, respectively.

Related party balances

Amounts due to and due from related parties as of September 30, 2018 and December 31, 2017 are summarized in the below table:

	As of
Related party (Dollars in millions)	September 30, 2018		December 31, 2017
Related party receivables	$	12.9	$	—
Related party payables		60.6		—

Related party receivables primarily relate to an agreement between Autoliv and Veoneer.

The related party payables are mainly driven by Reseller Agreements put in place in connection with the spin-off. The Reseller Agreements are between Autoliv and Veoneer to facilitate the temporary arrangement of the sale of Veoneer products in the interim period post spin-off. For further information, see Note 3. Discontinued Operations above.